One benefit that employers sometimes offer is life insurance. However, the amount of coverage your employer provides may not be adequate based on your individual needs. A fellow employee may be the same age and have the same salary, but they might have totally different needs. In addition, the coverage provided by your company will only be in effect as long as you work there.

The solution to guarantee you have adequate coverage? Your employer may offer a voluntary life insurance policy, which is an optional benefit where the employee pays the premium.

Benefits of a voluntary life insurance policy:

  • Convenience of having premiums deducted from your paycheck.
  • Premiums may be less expensive than individual life policies because of an employee group discount.
  • Employer-sponsored plans often don’t require applicants to pass a physical exam.
  • Employees may transfer their group life policy to an individual plan in the event of termination or a job change.

Talk to your employer and find out if they offer additional life insurance protection other than the basic group plan. If not and you think your employer would find this to be of interest to your business, please have them contact us. This coverage is necessary to provide peace of mind that your family will be provided for in the unfortunate event of your death, not only during your tenure of employment with that business, but beyond.